STATE BANK OF INDIA vs SRI LAKSHMIKANTA MONDAL on 12 June 2025

Page No.

KOLKATA DEBTS RECOVERY TRIBUNAL NO. 2

ORDER SHEET

(Continuation)

State Bank of India

T.A./333 of 2020

Case No. \_\_\_\_\_

Vs

Sri Lakshmikanta Mondal

<table border="1"> <thead> <tr> <th data-bbox="141 196 214 261">Date of Order</th> <th data-bbox="214 196 781 261">Order with Signature</th> <th data-bbox="781 196 906 261">Office action with date and dated Signature of parties when necessary</th> </tr> </thead> <tbody> <tr> <td data-bbox="141 261 214 916"> <p>14<br/>12.06.2025</p> </td> <td data-bbox="214 261 781 916"> <p>Counsel for the parties:<br/> Ms. Ahana Rakshit, Ld. Advocate representing Mr. Anirban Pramanick, Ld. Counsel for the applicant Bank.<br/> None appears for Defendant.<br/> T.A./333 of 2020 (arising out of O.A./670 of 2018) is allowed and disposed of.<br/> Final order / Judgment is in separate sheet of 5 pages.<br/> File be consigned to record room.<br/> Order be uploaded on the Tribunal's website.</p> <p style="text-align: right;"> <br/> (Arbind Madhav)<br/> Presiding Officer<br/> DRT-2, Kolkata </p> </td> <td data-bbox="781 261 906 916"></td> </tr> </tbody> </table>

1T.A./333 of 2020 – DRT-2/Kol**DEBTS RECOVERY TRIBUNAL - 2, KOLKATA**Jeevan Sudha Bldg. 07^th Floor, 42/C, J.L. Nehru Road, Kolkata – 700071**Before Shri Arbind Madhav, Presiding Officer****T.A. No. 333 of 2020**

(arising out of O.A./670 of 2018)

**In the matter of** -

**State Bank of India** (formerly State Bank of Travancore), a banking institution and a body corporate constituted, incorporated and formed by and under the provisions of the State Bank of India Act, 1955, having its local Head Office at Samriddhi Bhawan, 1, Strand Road, Kolkata – 700001, and carrying on business, *inter-alia*, amongst others at their Lake Market Branch, 176, Sarat Bose Road, P.S.- Lake, Kolkata – 700029, and represented by Small & Medium Enterprises City Credit Centre, commonly known as "SMECCC", 1, Strand Road. Samriddhi Bhavan, Annex Building, 4^th Floor, P.S.- Hare Street, Kolkata – 700001.

..... Applicant Bank

-Versus-

**1. Sri Lakshmikanta Mondal**, Son of Late Anil Mondal, residing at Kriparampur, Madhya Para, Chandi, Bishnupur, 24-Parganas (South), P.S.- Bishnupur, Pin – 743503, West Bengal.

..... Defendant

Counsel for parties:

<table> <tbody> <tr> <td>For the Applicant Bank</td> <td>: Mr. Anirban Pramanick, Ld. Advocate</td> </tr> <tr> <td>For the Defendant</td> <td>: <i>Ex-Parte</i></td> </tr> </tbody> </table>

**FINAL ORDER / JUDGMENT**

Delivered on 12.06.2025

Applicant, State Bank of India instituted the present Application being the Original Application No.670 of 2018 filed in DRT-3, Kolkata on 10.08.2018 against single Defendant under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.14,22,183.00 (Rupees fourteen lacs twenty two thousand one hundred eighty three) as on 29.05.2018 together with further interest @ 18% per annum, till realization of the entire dues. Subsequently, the instant case has been transferred to DRT-2, Kolkata vide the Hon'ble Chairperson DRAT, Kolkata's direction vide letter No.4/6/DRAT/KOL/2018(pt.) dated 16.09.2019, such has been recorded vide Ld. Registrar, Kolkata DRT-3's Order dated 30.10.2019 and the same has been renumbered as T.A./ 333 of 2020 vide Ld. Registrar's order dated 11.06.2020.

2. The brief facts of the case as set out by the Applicant Bank in its Original Application, as under:

(i) That on or about 14.09.2016 the defendants had applied before State Bank of Travancore, Lake Market Branch, Kolkata – 700029 which has now merged into State Bank of India as per the Gazette of India notification dated 22.02.2017 with effect from 01.04.2017 for term loan facility of Rs.13,00,000/-; upon consideration of application, applicant Bank was pleased to grant / sanction a Term Loan to the tune of Rs.13,00,000/- (Rupees thirteen lacs) in favour of the defendant vide sanction endorsement letter dated 29.09.2016. At the time of said loan facility, the effective rate of interest was @ 12.10.% per annum with monthly rests. The primary security of the said term loan was the hypothecation of vehicle TATA Bus LP/912 EX 49 BS – III bearing Registration No. WB 19H 6559. The collateral security was the CGTMSE guarantee scheme. Copy of loan application form is annexed and marked with Letter 'A' and Exhibit – AW-1. Copy of said sanction endorsement letter dated 29.09.2016 is annexed and marked with Letter 'B' and Exhibit – AW-2.

(ii) In consideration of the aforesaid Term Loan facility of Rs.13.00 lakhs, the defendant executed the following security documents on dated 03.10.2016:

- (a) Term Loan Agreement;

- (b) Hypothecation Agreement for term loan;

- (c) Letter of Undertaking.

Copy of said documents are annexed and marked with Letter 'C', 'D' & 'E' and Exhibit AW-3, AW-4 & AW-5 respectively.

(iii) Applicant Bank got valued the said vehicle through its empanelled valuer. Copy of said valuation report dated 04.08.2018 is annexed and marked with Letter 'F' and Exhibit – AW-6.

3. The Defendant availed and enjoyed the said Term Loan facility by opening Account in Bank's Lake Market Branch, 176, Sarat Bose Road, Kolkata – 700029. However, the defendant failed and neglected to abide by the terms and conditions of the facility. The Defendant did not repay the outstanding Bank's dues and overdue interests in loan Account. Inspite of repeated requests and personal contact made by the applicant Bank, the defendant failed to regularize the loan Account. Since the defendant did not pay any attention to regularize the Account, the Account became out of order and was classified as N.P.A. on 03.10.2017. Applicant Bank finding no other alternative issued a legal notice dated 05.06.2018 upon the defendant by its Advocate demanding to repay the outstanding loan amount of Rs.14,22,183.00, but the defendant did not comply the said notice; copy of Advocate's letter dated 05.06.2018 is annexed and marked with letter 'H' and Exhibit AW-8. Certified copies of Statement of Account along with Certificate under Bankers' Books of Evidence Act, with Statement of Claim, have been filed to show and prove the dues (Letter 'G' and Exhibit AW-7), and future interest @

18% per annum, till the date of realization of entire dues, has been prayed. Applicant Bank submitted that their claim in the Application is within limitation.

4. The notice / summons was sent to the Defendant by the Tribunal; service of Notice / summons upon the Defendant by postal service has been successfully completed, such has been recorded vide Ld. Registrar's order dated 09.01.2024. Despite service, the sole defendant did not appear nor filed the written statement; thus, the defendant was ordered to be proceeded *ex-parte* vide order dated 03.01.2025. Applicant Bank has filed the written notes of argument on 13.09.2024 wherein stated the brief facts of the case as has been narrated in the original application.

5. Applicant Bank has filed the evidence-on-affidavit affirmed by Diptendu Kumar Rakshit, Deputy Manager of Bank's SMECCC, 1, Strand Road, Samriddhi Bhavan, Kolkata – 700001 along with the copy of original documents executed by the Defendant. Original documents have been produced by the Applicant Bank; the same have been verified with copies of the documents annexed with O.A. and the original documents have been returned to Shri Chandra Sekhar Singh, Chief Manager of Bank's SARB Kolkata, 'Kankaria Centre', 2/1, Russel Street, Kolkata – 700071 on 09.03.2021, such has been recorded in Ld. Registrar's order dated 09.03.2021. The documents produced by the applicant Bank are exhibited and annexed at 'AW-1' to 'AW8'.

I have heard the Ld. Advocate of the applicant Bank and perused the records.

6. Evidence-on-affidavit, filed by applicant Bank, has remained unchallenged, unrebuted and its veracity cannot be put to dispute. Applicant Bank has corroborated the averments made in the O.A. Applicant Bank has proved the sanction of Term Loan facility of Rs.13.00 lacs. Applicant Bank has proved the creation of hypothecated movable assets – vehicle, described in Schedule at page 12 and para 3A at page 3 of the original application.

7. Applicant Bank has stated that the outstanding balance in Loan Account (Inclusive of accrued interest and other charges as calculated upto 29.05.2018) is **Rs.14,22,183.00** (Rupees fourteen lacs twenty two thousand one hundred eighty three) as on 29.05.2018, which is the amount claimed by the applicant Bank in the original Application, and the defendant is liable to repay the said amount to the applicant Bank with *pendente lite* and future interest, till realization. I allow the claim as made by the applicant Bank in the original Application. Applicant Bank has prayed future interest @ 18% per annum, while in the sanction endorsement letter dated 29.09.2016 the rate of interest @ 12.10% per annum, with monthly rests, has been mentioned. Therefore, in my view, the *pendente lite* & future rate of interest @ 12.10% per annum, with quarterly rests, from 30.05.2018, is allowed.

8. On the point of limitation, Loan has been sanctioned on 29.09.2016, security documents have been executed on 03.10.2016 and original Application has been filed on 10.08.2018. As such, the original Application appears to have been filed well within the period of limitation.

9. The matter also falls within the territorial as well as pecuniary jurisdiction of this Tribunal. The Applicant Bank has proved to claim made in the O.A./T.A. The T.A. being T.A./333 of 2020 (arising out of O.A./670 of 2018) deserves to be allowed; hence allowed.

10. In view of the above, I pass the following order :-

ORDER

(i) T.A./333 of 2020 (arising out of O.A./670 of 2018), filed by the applicant Bank, is allowed and debt is determined with cost against the sole Defendant. It is hereby ordered that the Defendant is hereby directed to pay the total debt amount of **Rs.14,22,183.00** (Rupees fourteen lacs twenty two thousand one hundred eighty three) due and payable, inclusive of interest and other charges as calculated upto 29.05.2018; and interest for the period *pendente lite* and future rate @ 12.10% per annum, with quarterly rests, from 30.05.2018, till realization of the entire sum due and recoverable.

(ii) Amount, if any, paid by the Defendant in the loan account or amount, if any, recovered by the applicant Bank after filing of the Original Application, the same may be taken into account while arriving at the exact amount of dues/debt payable by the Defendant. Accordingly, the *pendente lite* and future interest shall be calculated on the reduced amount.

(iii) The defendant debarred from transferring, alienating, encumbering or disposing of the hypothecated movable assets; described in Schedule at page 12 and para 3A at page 3 of the original application, as under –

"Hypothecation of vehicle TATA Bus LP/912 EX 49 BS – III bearing Registration No. WB 19H 6559, Chassis No. MAT454071G7C04986, Engine No. 497TC92CTY810683."

The Defendant is also debarred from transferring, alienating, encumbering or disposing any other property(s) either movable or immovable and assets belonging to him till the aforesaid adjudicated debt amount are recovered from the Defendant.

(iv) The defendant is given a time of forty-five days from the date of this Final Order / Judgment for repayment of the above mentioned dues, so intimated to him. In case the Defendant fails to pay the dues within the above mentioned time, the applicant Bank is entitled to recover its dues by sale of secured properties, as aforesaid. Applicant Bank is also entitled to proceed against personal properties of the Defendant both moveable and immovable and also proceed against the sole Defendant personally to recover the dues, in accordance with law.

(v) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Final Order / Judgment for issuance of the same against the Defendant in favour of Applicant Bank under Section 19(22) of the Recovery of Debts and Bankruptcy Act, 1993 (amended from time to time) and put up the same for signature for issuance.

(vi) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the sole Defendant, in accordance with law.

(vii) Ld. Registrar of this Tribunal is directed to place Recovery Certificate in terms of this Final Order / Judgment under section 19(22) of the Act of 1993.

**Accordingly, the Original Application, being T.A./333 of 2020 (arising out of O.A./670 of 2018) is allowed and stands disposed of.**

This order is dictated and corrected by the undersigned and pronounced on this the 12^th day of June, 2025.

Copy of the Final Order / Judgment be uploaded in the Tribunal's Website.

(Arbind Madhav) Presiding Officer DRT-2, Kolkata

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